Safety app to be launched for trial as owners search for investors
PUBLISHED: 11:47 18 June 2019 | UPDATED: 11:47 18 June 2019
One of Norwich's fastest growing tech start-ups is preparing to launch its product to trial and says it is investment ready following a three-month funding support scheme.
Safepoint is a lone worker safety application which allows employees who work without direct supervision check in with their teams.
The company was launched a year-and-a-half ago and was initially boosted by seed funding from the University of East Anglia, which allowed the team to work full-time.
This month the app will be put into the hands of a trial business, which chief executive Callum Coombes says will be a major step for the brand.
"It's the first time we'll be putting it directly into people's hands and seeing how it works," Mr Coombes said.
"It's going to be a really big month for us because we've also got a couple of new sales leads as well as some potential investment opportunities."
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These opportunities were presented to Safepoint after the team completed a Norfolk County Council-backed investment support scheme; Invest East.
The programme puts SME business owners and managers through their paces by pulling apart their business plans as well as constructing investment-ready pitch decks.
The programme concluded with a pitch off at the Assembly House last week, with Safepoint drawing for first place with aquatic device business Seneye.
Mr Coombes said: "Going into this I thought we might get a couple of investment opportunities, but there were workshops every other week and a room full of investors, from venture capitalists to angel investors, at the final event."
Workshops included coaching on how to present on stage to creating foolproof account documents.
"What was most surprising to all the businesses was how much more focussed investors are on the team as opposed to the product," Mr Coombes said.
"Our presentation was really based around a great product and the data that back it up, but people really wanted to hear about the people running the business and where we came from."
Invest East, which is also backed by UEA, the New Anglia LEP, Suffolk County Council and the European Regional Development Fund, is currently looking for its next cohort.